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LIT has as its brief as outlined in Section 5(1) IOT Act 2006 ‘to provide vocational and technical education and training for the economic, technological, scientific, commercial, industrial, social and cultural development of the state with particular reference to the region served by the college’. This includes the promotion of enterprise development within the region in support of its educational remit.

At LIT we take our responsibility to contribute to true innovation, new enterprise and new employment seriously. It is at the heart of the LIT Vision and Strategy 2020, which focuses on providing Active Leadership in Education, Enterprise and Engagement with the wider community. LIT already has a proven track record in delivering on this vision through our regional enterprise centres. Through creating the Ryan Entrepreneurship Fund in partnership with LIT which honours one of Tipperary’s greatest Entrepreneurs Dr. Tony Ryan, Irelands Aviator, this provides critical support for entrepreneurs in Tipperary.

The overall vision for the Ryan Entrepreneurship Fund for Tipperary is to invest funds to assist startup businesses so that the enterprises have enough funds to sustain themselves for a period of development until they reach a state of beginning either able to continue funding themselves, or have created something of value so that they are worthy of future rounds of funding. The Ryan Entrepreneurship Fund is expected to form part of and to supplement the overall financing programme of early stage companies which will also include proprietor equity and which may include bank loans, friend and family funding and grant assistance. Funding decisions will be made by the Ryan Entrepreneurship Fund Review and Oversight Panel.